St. Paul daily globe., 1887-10-13
The COMMERCIAL RECORD
On the Chicago Board of Trade There
Was a Delusive Show of
Activity,
Which Was Followed by Extreme Dull
ness in in All Glasses Of
Cereals.
Transactions in the Financial Circles
Of Wall Street.-The General
Quotations.
Special to the Globe.

influential members of the Board of Trade
has been made by parties who believe that
the commission rule is too high, and an over
whelming sentiment in favor of reduc
ton of the grain rate to Lice anu lsc for
members and non members has been devel-
oped. The movement will take the form OF
petition for modification of the rule. The
advocates of the existing rule believe that
the rule will be upheld as il stands when the
question comes to Il vote, but ii is not JIM
probable that they underestimate the force
and influence of the opposition. The grain
markets opened firm on lighter receipts and
steady cables The pits were not crowded at
the beginning, and the day started in
quietly. There was very little wheat for sale
and the tone Of the market seemed favora,
ble TO an improvement. The boards on pas
sage table shows a decrease of 100000
bushels for the week, the quantity atioat
now being 100000 quarters. Port clear
anceS are small owing TO an advance in
ocean freightS. but the foreigners are in the
future and their orders are on the buying
side. They do not seem 10 be in urgent pres
ent need of supplies, but they are casting
provident anchor to windward. They do
not propose to be left later. Primary points
receipts are hardly up to expectations and
arrivals here are falling of. a better invest
local parties were good buyers to-day i'll an
ucipation of an advance.
NEW YORK WAS STRONGER
and the general situation seems 10 be i'm
proving. Trade was above the recent aver
age volume. The price of November adj
vanced from 70S4c to lilac and May from
77Ssc TO 777sc. The scalping element is
playing the long side of the market and the
merchant class of spectators are again TAX
ing hold with moderation. They are not
hoggish and do not pretend to be buying The
crop. CloSings show small gain over yes
terday. The corn market is feeling the effect
of recent large receipts. An advance i'll
Liverpool quotations is recorded, but higher
freights rather more than offset this ad-
vantage. The feature of the market today
was the realizing by longs who bought weeks
ago in anticipation of a strong advance that
has not materialized. Offerings from that
source were heavy and overshadowed the
fact that receipts are tapering off. The tone
of the market was weak all through and loss
of ssG9l22 was sustained. Oats tended down
but the decline is slight. Provisions were
fcatureless and Stagnant. The tendency. 50
far as a tendency developed. was in the di
Tection of lower prices. Pork DC, ribs 22l2c
for January and l5c for October. January
lard was shade off, and near by months
lielU steady. Al the SESSION tIeFc
was fair interest III wheat and corn. with
out decided change in prices. Provisions
were steady, with slight Improvement in
ribs. Wheat-October, 69s4c; November
7O7sc; December, 72ssc: May, 77ss@77s4c
Com-Octobee, 4ll2c; November, 4ll2c:
December, Al lac; May, 44s4c. Oats-Octo
Der, 25s4l257Sc; May, 295sD29s4c. Pork
Sl2.2OG I2.322l2. Lnrd-October. S6.27Ia:
November, So. 25; December $6.25; May,
S6.32l2. Short ribe-October, S7.07I2; Jan
uary. S6.17l2.
THE ROUTINE REPORT
CHICAGO, Oct. 12.-When the session opened
on change there was a show of activity but
it was delusive. for extreme dullness fol-
lowed in all crowds except the scalpers in
wheat, and the business in that pit was light
and altogether local. The first indications
were for better prices, but they, too, proved
delusive in both wheat and corn before IL
q m, when wheat was off 14c and corn ssc
The corn crowd deserted the pit very largely.
Bear tactics operated against the very favor
able cables. but the wheat operators stuck 10
business, and before noon December rallied
TO 62l2c after touching T24@ 723sc. While
much of the business in the wheat pit was of
the ScalpinS order, underneath this there was
considerable quiet investing by holders. There.
with the fact that there was not much offered
excep! when scalpers attempted to realize,
gave the market general upward tendency.
The most depressing time of the day fol
lowed the opening, when November sold
down 10 70S4c, December to T2140l722sc and
May to 715s. AT noon November was az
T1Ac, lac cent better than Tuesday close:
December at 725sc. 14c better than the close,
and May at 1Sc, also lac improvement. The
last half hour was marked by weakness
caused by local sellers, and closing quota
a shade better for near futures and
one point off for May, November, 7O7sc:
cables were decidedly in favor of better
prices Tor corn; SO were the light receipts: but
the spirit OF selling was the ruling one of the
day, and with the local bears easily pulled
corn down l2c without even getting up mod
crate activity i'll the pit. Charters were lib
eral AS. .O09 bu. but this was not known in
time to effect the market. Receipts were $40
ears, with 375 cars predicted for THURSDAY
November opened at 42ls6142l4c. and closed
at 455sc; December, sold down from 4ls4c
10 4IAc, and May from 451sc TO 4I34c the
lowest and closing price.
In oats the only change of note was that
there was an increased demand for October
delivery, the result of which was 10 cause
about lac advance. In other deliveries only
a small at least no more than Il moderate
volume of business was done and the quota
tions for the day exhibited no essential
change from yesterday prices. Provisions
were weaker and prices averaged lower but
at the decline fair business was transacted
Receipts of hogs were larger and prices low
er- This had a depressing effect on holders
of produce, and stock came ont freely the
principal break being 2Oc on October short
ribs, which were left alone by the packers.
and closed at S7.20. January dropped Sc
and closed at S6.11l2@6,2O. October lard
opened at S637l2. declined to S6.27la and
closed easy, the shipping demand having
fallen off. Other futures dropped sc and
closed weak at the bottom. Pork broke &C.
and January closed at Sl2.22l2.
TIE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No October. Opened at 69Iac
closing at 69s4c; November, II. closing at
50ISc; Dece mber. 72asc; closing at 72ssc:
May, 77a4c, closing at a sec. Corn-No. p
October opened at 421sc, closing at 41I2c;
November. 42lsc, closing at 4llac: Decem-
Der. 4ls4, closing at 4l4se; May 45lac. clos
ing at 44a4c., Oats-No, October opened at
26c: November, 2Gc, closing at 257Sc; May
29s4c, closing at 2958c. MessPork, per
bbl-January opened at S12.27l2, closing
at S12.22l2. Lard. Per 100 lbs-October
yember, S6;25, closing at s5.25; Decem-
Der, S625. closing at S6.25; January. Sc 3d.
closing at S6.32i2 Short ribs, per 100 lbs
October opened at S7.I5, closing at
SI.O7l2: January, SO. 20, closing at 6.l7l2
Cash quotations were as follows: Flour
Firm and unchanged. Wheat-No spring
69Ss@6s98c: No. 3 spring. 65c; No. = red,
I2c. Corl-No. 2, 42Ac bid. Oats-No. p
Flaxseed, S1.06s4. Prime timothy seed So %
az. 24; mess pork. per bbl., S13.5O@14: lard
per 100 lbs, S6.37l2; short ribs, Sides
loose 81; dry, salted shoulders, (boxed)
$7.4O@745. Whisky - Distillers; finished
goods. per gal. 81. 10. Sugar, cut loaf. 63ic:
granulated, 6Ac; standard "a, 57sc. Re
ceipts-Flour, $4,000 bbls.; wheat, 116 600
bu.; corn. 5Sl 900 bu.; oats, 1877 600 bu.
rye, 1000 bu.: barley, 112, 900 bu Ship
ments-Flour, 24,000 bbls.: wheat, 10 l 600
bu.; corn, 262,000 bu.; oats 13s,O0O bu.:
rye, 1000 bu.; barley, $1,000 bu. On the
produce exchange to-day the butter market
was steady: creamery, 19026c: dairy Ga
gle. Eggs little easier; fresh Northern,
11@1Sc.